GWGOLD Forex Broker

What is GWGOLD?

　　GWGOLD is a regulated financial trading platform that allows users to trade in a variety of financial markets. It offers options for trading in different asset classes including spot gold, spot silver, and RMB kilogram strips. The platform provides its users with the opportunity to leverage their trades, from 1 to 50 times the initial investment, potentially increasing their returns.

Pros & Cons

Is GWGOLD Safe or Scam?

　　GWGOLD has the sole authority of a suspicious clone license under the Chinese Gold & Silver Exchange Society (CGSE), bearing license number 050 in China Hong Kong.

Market Instruments

　　GWGOLD provides a range of trading instruments spanning across several asset classes to cater to diverse trading interests. This includes:

　　Spot Gold: With GWGOLD, you can trade Spot Gold. This type of trading involves the buying or selling of gold at its current market price, offering the potential for lucrative returns for experienced and responsive traders.

　　Spot Silver: Similar to Spot Gold, Spot Silver trading also allows you to buy or sell silver at its real-time market prices. Spot trading can be beneficial for those who have a solid understanding of the market and effective strategies in place.

　　RMB Kilogram Strips: This instrument refers to the trading of gold kilogram bars in terms of Chinese Yuan (RMB). It provides an option for those interested in larger volume trading with a direct relation to the Chinese market.

How to Open an Account?

　　To open an account with GWGOLD, you would want to follow these general steps. Please note, the specific steps may vary a bit based on GWGOLD's unique process:

• Visit GWGOLD's Official Website: Begin by navigating to the official GWGOLD website.
• Click the ''Open Live Account'' Button: This button is visible on the guideline of the homepage.

• Complete the Registration Form: Fill in the required fields with accurate information. These fields include name, gender, identification number, Copy of lD card (front), and Holding a photo of your lD.

• Read and Accept Terms and Conditions: Before proceeding, ensure you read and understand the platform's terms and conditions.
• Verify Your Account: You would likely receive an email or SMS from GWGOLD to verify your account. Follow the instructions provided in the message.
• Add Security Measures: Depending on the platform, they may encourage or require you to enable additional security measures, such as two-factor authentication (2FA), to further secure your account.
• Deposit Funds: Once all prior steps have been completed, you should be able to deposit funds into your newly created account.
• Start Trading: After the funds have been deposited, you can begin trading.

Leverage

　　GWGOLD offers a leverage system ranging from 1 to 50 times, allowing you to trade with a value significantly higher than the amount of money in your account.

Trading Platforms

　　GWGOLD offers MetaTrader 4 (MT4) trading platform to clients. With its advanced charting and analytical tools, as well as its capability for automated trading through Expert Advisors (EAs), MT4 provides a comprehensive and user-friendly trading experience.

Deposits & Withdrawals

Deposit funds

　　Hongfeng Bullion provides its customers with several convenient methods for depositing funds, such as:

• Domestic Card Deposit: This method involves using a locally issued card for direct depositing.
• Hong Kong Bank Deposit/Telegraphic Transfer: Funds can also be transferred via Hong Kong banking systems or through a telegraphic transfer.

　　However, it must be noted that apart from domestic card deposit, customers are required to submit proof of transaction. This can be in the form of a remittance slip or a screenshot of the receipt. These proofs ought to be submitted to the customer service department either by email, fax or through an online submission process.

Withdraw funds

　　Hongfeng Bullion offers various ways for clients to request a withdrawal of funds from their accounts. These are the steps:

• Online Submission: Clients can request a withdrawal by submitting an application online.
• In-Person Submission: Clients can also go to one of Hongfeng Bullion's physical locations and request a withdrawal in person.
• Mail or Email: Clients can mail or email their withdrawal request.
• QQ: Clients may also use the QQ platform to submit a withdrawal request.

　　Pay attention that withdrawal applications should be placed before 4:30 p.m. each day. Any requests received after this cut-off time will be held and processed on the following business day.

　　In terms of fees, if the withdrawal amount exceeds USD 50, the disbursing and receiving banks may apply an administration fee for the transfer. All applicable handling fees will be deducted from the withdrawal sum.

Customer Service

　　GWGOLD provides a comprehensive and accessible customer support network. Their support team can be reached through different channels for ultimate convenience.

• Hong Kong Tel: (852) 3978 8188;
• Domestic toll-free line: 4001 206 668;
• Fax: (852) 3978 8198;
• Email: cs@gwgold.com.hk;
• Wechat subscription number: GWGOLD;
• Wechat service number: GoodwillGoldGroup
• Address: 1st Floor, Jade Exchange Square, 513-531 Canton Road, Kowloon, Hong Kong
• Contact form

Conclusion

　　In conclusion, GWGOLD offers a range of trading instruments located in various asset classes including spot gold, spot silver, and RMB kilogram strips, with a leverage system that ranges from 1 to 50 times, potentially enhancing trading opportunities. Positive aspects include multiple methods for deposit and withdrawal of funds, varied customer support channels, and the allowance for high leverage.

Frequently Asked Questions (FAQs)

Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors.